10 Best Bitcoin and Blockchain Stocks To Buy Right Now

3. Coinbase Global, Inc. (NASDAQ:COIN)

Number of Hedge Fund Holders: 42

Coinbase Global, Inc. (NASDAQ:COIN) offers an online platform for buying, selling, saving, earning, transferring, and using cryptocurrency. The firm also provides critical infrastructure for onchain activity and support builders. In 2023, the firm was reported to hold 5% of the global Bitcoin supply making it one of the largest Bitcoin holders globally.

Coinbase offers a comprehensive platform that powers the crypto economy comprising 245,000 ecosystem partners in over 100 countries The firm mentions five key strengths behind this platform which include trust, crypto-first technology, easy-to-use products despite the complex underlining technology, repeatable innovation, and significant scale as it securely stores over $90 billion in assets on the platform.

The third quarter went promising for Coinbase Global, Inc. (NASDAQ:COIN) as the firm marked its 7th consecutive quarter of positive adjusted EBITDA. The firm has tried to diversify its revenue over the years away from transaction fee revenue as it has shifted more of that to subscription and services revenue. In this regard, COIN is all set to surpass $2 billion in subscription and services revenue in 2024. The firm witnessed average native unit growth across staking, on-platform USDC, and custody despite softer market conditions in Q3.

In terms of reputation, Coinbase clearly wins as it serves as one of the longest-running crypto platforms where customers haven’t experienced a loss of funds as a result of a security breach. With a market-leading share of assets and one of the most trusted platforms for managing crypto globally, Coinbase is a known name in the crypto industry.